KUALA LUMPUR, Oct. 22 -- Licensed financial planner Rajen Devadason said an insurance annuity scheme like Singapore's CPF LIFE could also work in Malaysia.

He explained that if the government gives a long runway, and make it politically more palatable by giving people a chance to opt out, a similar scheme may be acceptable.

He was speaking to Malay Mail at the sidelines of the recent Employees Provident Fund's (EPF) International Social Wellbeing Conference 2026 (ISWC 2026).

Rajen said there might be the risk of a political backlash if access or withdrawals from EPF savings at ages 50, 55 and 60 is changed so one possibility is to keep the same withdrawal rules while using a small portion of EPF savings for an annuity.

"But if let's s...